Coronary Stents Market Size to Reach USD 8.08 Billion by 2027; Increasing Number of Regulatory Approvals will Encourage SMEs

The global coronary stent market size is projected to reach USD 8.08 billion by the end of 2027. High investment in technological intervention has opened up a huge potential for market growth. According to a report published by Fortune Business Insights, titled “Coronary Stent Market Size, Share & Industry Analysis, By Stent Type (Drug-Eluting Stent, Bioresorbable Stent, Bare Metal Stent, Covered Stent, Others), By Deployment (Self-expandable, Balloon-expandable), By End User (Hospitals & Ambulatory Surgical Centers, Specialty Clinics, Others) and Regional Forecast, 2020-2027” the market was worth USD 5.91 billion in 2019 and will exhibit a CAGR of 6.7% during the forecast period, 2020-2027.

Coronary stents are widely used in surgical procedures associated with the treatment in patients suffering from coronary heart diseases. Accounting to their ability to enhance the surgical procedures, these products are used in percutaneous coronary intervention procedures on a larger scale across the globe. The presence of several large scale companies involved in the development of efficient stents will emerge in favor of market growth. The availability of favorable health reimbursement policies has led to a wider product adoption in recent years. Increasing investment in technological intervention has played a massive role in the growth of the overall market in the forthcoming years. Additionally, increasing number of regulatory approvals will not just aid the growth of the market, but will also encourage start-ups as well as established companies.

Biotronik Announces FDA Approval for New Stent System

The report highlights a few of the major industry developments of recent times and discusses their impact on the growth of the overall market. Increasing number of regulatory approvals is an encouraging sign and more companies are now focused on introducing newer products, with the bid to establishing a stronghold in the market. The report labels a few of the leading regulatory approvals of recent times and discusses their impact on the overall market. In September 2018, Biotronik announced that it has received approval from the US Food and Drug Administration for a new coronary stent. The company announced that PK Papyrus Covered coronary stent system was cleared by the FDA. The product is used to stop the blood leakages that are experienced during surgical procedures. Biotronik’s latest approval will help the company generate massive revenues in the coming years.

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https://www.fortunebusinessinsights.com/industry-reports/coronary-stents-market-100065

Increasing Prevalence of Coronary Heart Diseases Will Provide Impetus to Market Growth

The report includes a few of the major factors that have contributed to the growth of the overall market in recent years. The high prevalence of coronary heart diseases in several countries across the world will create several opportunities for the companies operating in the coronary stents market. The increasing adoption of sedentary lifestyle habits will lead to an increase in surgical procedures, which in turn will aid the growth of the overall market in the coming years.

Abbott, Medtronic, and Boston Scientific Corporation are Among the Leading Companies in the Global Market

The report includes the major strategies adopted by leading companies and highlights their influence on the growth of the market. The global coronary stents market is consolidated in nature as only a few companies dominate the overall market. Among all companies, Abbott, Boston Scientific and Medtronic have emerged leading in recent years.

List of companies profiled in the report:

• Biotronik SE & Co. KG


• Cardinal Health


• Cook


• C. R. Bard, Inc.


• MicroPort Scientific Corporation


• Terumo Corporation


• B. Braun Melsungen AG


• Abbott


• Boston Scientific Corporation


• Medtronic


• Others

Industry Developments:

• May 2018: Abbott announced that it has received approval from the U.S. Food and Drug Administration (FDA) for XIENCE SierraTM. The product is classified as the newest generation of the company's gold-standard XIENCE everolimus-eluting coronary stents system.

The global market is segmented on the basis of: